BI Asset Management Fondsmaeglerselskab A S Trims Position in Fortive Corporation $FTV

BI Asset Management Fondsmaeglerselskab A S decreased its position in Fortive Corporation (NYSE:FTV) by 45.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,987 shares of the technology company’s stock after selling 10,065 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fortive were worth $663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC increased its position in shares of Fortive by 43.6% during the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Fortive by 20.5% in the 4th quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock worth $61,000 after purchasing an additional 189 shares during the period. Empowered Funds LLC boosted its holdings in shares of Fortive by 2.3% in the fourth quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock worth $482,000 after buying an additional 197 shares during the last quarter. Park Avenue Securities LLC grew its position in Fortive by 2.5% during the fourth quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock valued at $464,000 after buying an additional 208 shares during the period. Finally, Clearstead Trust LLC grew its position in Fortive by 29.8% during the fourth quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock valued at $53,000 after buying an additional 219 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, May 11th. Royal Bank Of Canada upped their price objective on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Finally, Morgan Stanley lifted their target price on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.62.

Fortive Price Performance

NYSE FTV opened at $61.67 on Friday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $71.85. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of 36.93 and a beta of 1.06. The company’s 50 day moving average is $60.33 and its two-hundred day moving average is $57.57. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts anticipate that Fortive Corporation will post 2.97 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 22nd will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s payout ratio is 14.37%.

Fortive declared that its Board of Directors has approved a stock buyback plan on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the completion of the transaction, the senior vice president owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.65% of the company’s stock.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.